77% of Bitcoin holders have not tried BTC finance.

There Is a Serious Problem with Bitcoin Financing (BTCFi)

Bitcoin owners have reported that approximately 77% have never tried Bitcoin financing (BTCFi) platforms. A survey conducted by GoMining with over 700 participants from North America and Europe shows that Bitcoin owners have very little interaction with BTCFi. Only 10% of respondents reported trying it a few times, while 8% stated that they actively use BTCFi services.

This result reveals a clear gap between the opportunities offered by the BTCFi sector and the actual accessibility. GoMining CEO Mark Zalan stated, "There is significant demand for these opportunities, but the industry has developed products for crypto-native users rather than for ordinary Bitcoin owners."

Seventy-three percent expressed interest in utilizing their BTC through lending or staking, while 42% requested access to liquidity without selling. However, hesitance to invest more is prominent: over 40% mentioned that they would consider allocating less than 20% of their holdings to BTCFi products. This situation highlights issues of trust and complexity within the sector.

Lack of Awareness and Market Issues

Perhaps the most striking finding is how invisible the industry still is. GoMining survey revealed that 65% of Bitcoin owners couldn't even name a single BTCFi project. Despite millions of dollars in venture funding, BTCFi platforms seem to cater more to themselves than to the market they are designed to serve.

The report suggests that the BTCFi adoption issue may stem from its dependence on the decentralized finance model of Ethereum. According to GoMining, Bitcoin users are more cautious: they prefer safe services, regulated ETFs, and simplicity over trying self-custody wallets and complex protocols. Zalan clearly articulated this by stating, "Bitcoin owners are not Ethereum users."

This survey serves as both a warning and an opportunity for the industry. Millions of Bitcoin owners desire the returns and liquidity promised by BTCFi, but they need to encounter products they can trust and understand. However, it should be noted that the survey participants were randomly selected from only 700 GoMining users. GoMining is a digital Bitcoin mining platform that connects users to real-world mining operations via Digital Miners non-fungible tokens (NFTs). Therefore, the results should be evaluated based on how representative these users are of typical Bitcoin users. A GoMining spokesperson stated, "Our user base represents the Bitcoin owner universe quite well. Over 80% of our users open their first crypto wallet with us and enter the Bitcoin ecosystem through our digital mining products."